Wednesday, October 07, 2015

Got the Next BIG BUSINESS Success?

As challenging as the economy may seem to be, there are still many looking for ways to launch their BIG BUSINESS IDEA into the NEXT BIG BUSINESS Success!  

My home province in western-Canada is Alberta.  Every region, regardless of the country you're located in, will likely have sectors of the economy that 'ebb and flow'. Alberta has experienced the significant impact of lower world oil prices, followed by job losses and higher unemployment, particularly in the oil patch. In spite of this, Alberta is still a great place to pursue business opportunities! And I'll mention one such success story in a moment.

A question that's often asked is: 'How can I know if my business idea will succeed?' The truth is none of us can know with perfect certainty that we'll succeed! And the reality is that NOT everyone is cut out to be an entrepreneur. That's why it's really important to understand what may be ahead, should you 'venture' down the entrepreneurial road!

Canadian government figures indicated that approximately 18 percent of the Alberta workforce was self-employed. When it comes to achieving 'success', recognizing that may be defined differently by each of us, the reality is that after 5 years of operation, approximately 60 percent of the businesses that started are no longer around. Beyond that, close to 80 percent will have disappeared within 10 years of having started. (Ouch!)

Pictured below is "Figure 6" that comes from an Industry Canada report called: "Key Small Business Statistics - August 2013".  It shows the business survival rates for all Canadian SMEs with 1 to 499 employees, as well as micro-enterprises (1 to 4 employees) and other small enterprises (5 to 99 employees). More detail is available directly from the report which can be found through the link at the end of this post. The business survival rates indicated here focus on the critical early years after formation, and the information is consistent with other sources we've seen.




So, let me come to the good news! The good news is that we definitely believe you can improve your chances of success with careful preparation before you set out to launch and grow your business!

Our approach has been one of collaborating with the key stakeholders who are helping entrepreneurs in the local community. We connect with, and build positive working relationships that bring together local Economic Develpment Professionals, Chambers of Commerce, Business-Industry Associations & Supportive Organizations. Working together, we help communities and organizations to develop NEW businesses, create NEW jobs, and stimulate NEW investment with what we believe is a SMARTER Business Start!

Over the past ten years, we've been delighted to offer the "Business START-UP Seminar Series" as a way of helping early-stage entrepreneurs prepare to start and more successfully face the challenges ahead of them. Using our collaborative approach with supportive, like-minded community stakeholders, we tap into the valuable resources available to assist the business community. Those who participate have gained many valuable insights, information, and perspectives that have helped them move forward - in the right direction!

Our NEXT Business START-UP Seminar Series is scheduled for November 2015 in the City of St. Albert, just outside of Edmonton, Alberta. 

Reflecting back over the years we've helped many who've dreamed of finding their own business success. One hopeful entrepreneur we met about 6 years ago said she came to our series because she was looking for some help with: “... the thought processes involved in moving from full time employment in a corporate job to being self employed. It was hugely beneficial in helping me break down what actions I needed to take, to make my dream a reality, and more importantly, help to break this down into organized segments (eg. Finance, marketing, legal etc...), so that it didn't seem so overwhelming.”

Jacqueline Jacek officially launched the JACEK Chocolate Couture brand on 1 December, 2009 from a home-based chocolate studio. In September 2012, JACEK Chocolate Couture expanded into a commercial chocolate studio for production, complete with a boutique where customers can purchase JACEK products.
Awards & Recognition
In December 2011, JACEK Chocolate Couture was chosen as one of the Top 10 Chocolatiers in North America, and she’s received numerous other recognitions as well.
We've been fortunate to have had Jacqueline speak at some of our events since her business launch.  We very much appreciate her having also shared some of those insights in a short video that can be seen on our YouTube Channel. Access to this and our other social media channels can be found through the links on our Website at: www.pvs4u.ca 

* Those interested in more information regarding the Business START-UP Seminar Series scheduled for November 2015 in St. Albert can CLICK HERE for details and registration. 

EARLY-BIRD DEADLINE for Registration is October 16, 2015.

As noted above, the Industry Canada report called: "Key Small Business Statistics - August 2013" was found at: https://www.ic.gc.ca/eic/site/061.nsf/eng/02802.html
  


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